DXY & Forex

Overnight Shibor was quoted at 1.3690% on July 6, unchanged from the previous day. The 7-day Shibor declined 0.6 basis points to 1.3900%, while the 3-month rate fell 0.05 basis points to 1.4345%.

According to Jin10, Japan's 10-year government bond yield rose to 2.79% on July 6, marking its sixth consecutive day of gains and approaching Friday's intraday peak of 2.81%. This level is the highest since October 1996. The sustained rally over the past month, particularly in longer-dated bonds,

According to Yonhapinfomax, the Korean won weakened against the US dollar on July 6 morning, trading at 1,533.90 at 9:23 a.m. KST, up 8.30 won from the previous close. The rally was driven by bargain-hunting inflows following a sharp decline on July 3, combined with the Japanese yen's weakness as

Japanese stocks rose on July 6, with the Nikkei 225 gaining 482.03 points (0.69%) to 70,226.10 as of 9:14 AM, driven by strength in select semiconductor stocks. The index recovered the 70,000 level after falling to 68,000 last week. Individual investors demonstrated bargain-hunting sentiment

South Korean government bond futures opened lower as the USD-KRW exchange rate rose for a second consecutive session, exerting downward pressure on the bond market. The 3-year bond futures contract fell 5 ticks to 103.01, while the 10-year contract dropped 19 ticks to 106.06 as of 9:12 AM. The

According to Yonhap Infomax, Japan's Nikkei 225 Index rose 482.03 points (0.69%) to 70,226.10 on July 6, recovering above the 70,000 level after declining to 68,000 last week. The TOPIX Index increased 24.85 points (0.61%) to 4,089.45. Semiconductor and artificial intelligence stocks led gains,

ING stated on the 6th that the possibility of Japanese foreign exchange authorities' market intervention remains high. The bank explained through a weekend post that Japanese authorities typically intervene during holidays and tend to spread interventions across multiple days. ING noted that the

According to ING, Japanese monetary authorities face elevated risk of foreign exchange market intervention on July 6, as market liquidity declines following the U.S. holiday period. The bank noted in a recent statement that Japanese authorities typically intervene during holidays and distribute inte

FXOne Foreign Exchange Brokerage launched Korea's first customer-facing foreign exchange trading service on the 6th, aligning with the domestic interbank FX market's transition to 24-hour operations. The platform enables exporters, importers, asset managers, and pension funds to compare real-time cu

Bank of America stated in a recent report that foreign exchange market interventions by major developed countries remain rare but highly impactful policy tools, with Japan and Switzerland identified as the most active participants among G10 nations. The analysis comes as speculation grows around

Foreign insurance companies are showing renewed interest in Korean government bonds as 5-year yields exceeded 4%. According to a bond market official interviewed by Yonhap Infomax on the 6th, one foreign life insurance company that previously avoided Korean bond investments is now considering

According to Bank of America on July 5, Japan and Switzerland are the most actively intervening nations among G10 countries in forex markets, despite central bank currency interventions remaining rare globally. BofA's report notes that Japan has repeatedly intervened since 2022 to defend the yen

According to Yonhap Infomax, FXOne, South Korea's first retail foreign exchange broker, launched its FXOnePro platform on July 6, enabling customers to access real-time exchange rate quotes from multiple banks simultaneously at zero cost. The platform allows exporters, asset managers, and pension

According to a research report from Mitsubishi UFJ Bank as reported by Jin10 on July 6, the market is in a holding pattern awaiting the next catalyst for the US dollar and interest rates. Key data releases this week include the US ISM Services PMI and Federal Reserve meeting minutes, followed by US

According to Yonhapinfomax, South Korea's KOSPI index fell sharply to below 7,000 in recent weeks, down from over 9,300 in late May, with circuit breakers triggered multiple times. The 3-year government bond yield declined to 3.7% from 3.93% in early June, as debt market participants assess

According to the European Central Bank, its Target2 (T2) payment system is operating normally following the resolution of a payment processing incident that occurred earlier today. The system, which facilitates settlement of financial transactions across the euro area, has resumed full

South Korean foreign exchange brokers expressed optimism about new market opportunities following the Ministry of Finance and Economy's decision on the 3rd to change the dollar-won exchange rate benchmark calculation to a 4 PM time-weighted average price (TWAP) method, effective January 1 next

According to South Korea's Ministry of Economy and Finance, the Korean won-U.S. dollar exchange rate benchmark calculation method will transition from the existing MAR (morning weighted average rate) to 4 p.m. TWAP (time-weighted average price) starting January 1, 2027. The Seoul foreign exchange ma

Dongkuk Holdings, the holding company of Dongkuk Steel Group, reported increased pretax profit amid high exchange rates, according to the company's business report. When the won-dollar exchange rate rises 10%, consolidated pretax profit increases 8.256 billion won, contrary to typical steel

The People's Bank of China (PBOC) conducted a 70 billion yuan 7-day reverse repurchase operation today (July 6), with a bid-to-cover ratio of 100% and an operating rate of 1.40%.